London, July 8, 2026, 14:01 BST
- The London Stock Exchange was trading at 14:01 BST. Delayed data had the FTSE 100 off 0.94% and the FTSE 250 losing 1.11%.
- BP LON:BP and Shell LON:SHEL moved higher as oil prices climbed. Reuters said earlier that energy was the only UK sector in positive territory, while most others traded lower.
- Jet2 (LON:JET2) traded higher as summer bookings increased 7.1%. Vistry (LON:VTY) slipped after it flagged a £30 million pre-tax loss for the first half.
London shares dropped on Wednesday, but moves were split. Oil majors held up with higher crude, while most other stocks fell as fuel costs and inflation fears rose, plus a new Middle East worry after U.S. President Donald Trump said the first Iran deal was done. Reuters reported the FTSE 100 off 1.3% to 10,519.17 at 1111 GMT, with the FTSE 250 down 1.7%.
Market breadth stood out for investors. Energy was up—it was the only sector in the green earlier. Defence stocks fell the hardest, which doesn’t happen often when markets are moving on Middle East risks. BP gained 3%, Shell added 1.8%. Precious-metals miners dropped 3.6% as gold lost over 1%.
| Index | Delayed level | Day change | Day high | Day low |
|---|---|---|---|---|
| FTSE 100 | 10,565.47 | -0.94% | 10,666.09 | 10,481.71 |
| FTSE 250 | 23,119.08 | -1.11% | 23,383.83 | 22,881.84 |
Prices showed at least a 15-minute delay, Hargreaves Lansdown said.
The drop followed Tuesday, when the FTSE 100 ended up 0.1% at 10,655.88 after Shell gave better second-quarter guidance. Energy shares jumped 2.8%, Shell added 3.4%, and BP rose 1.4%. Still, the FTSE 250 fell 0.5%.
| FTSE 100 stock | Price | Day move | Read-through |
|---|---|---|---|
| BP LON:BP | 485.94p | +2.40% | oil trade support |
| Shell LON:SHEL | 3,055.50p | +1.48% | oil trade support |
| Babcock International (LON:BAB) | 1,037.00p | -3.89% | defence stocks struggled |
| Antofagasta LON:ANTO | 3,635.00p | -3.53% | weakness in mining |
| Rio Tinto LON:RIO | 6,604.00p | -3.24% | weakness in mining |
| International Consolidated Airlines Group LON:IAG | 465.30p | -2.58% | hit by fuel worries |
AJ Bell data taken at 12:46 BST.
Brent crude traded 5.1% higher at $77.93 a barrel at midday in London. West Texas Intermediate gained 5% to $73.96, Sharecast data from Hargreaves Lansdown showed. Neil Wilson, UK investor strategist at Saxo Markets, said Trump’s latest comments “set sparks flying” and pushed up the risk of the talks collapsing. HL
Kathleen Brooks, research director at XTB, said Brent would need a new Strait of Hormuz blockade for prices to break above $80 a barrel. That price point matters for UK equities, because while higher crude could lift BP and Shell, it would likely hurt airlines, leisure stocks, and other rate-sensitive domestic shares.
Jet2 was the top performer on offsets. The travel company said summer passenger bookings are up 7.1% so far, with capacity for sale 7.7% higher than last year. Average load factor in the first four months rose by 1.2 percentage points. CEO Steve Heapy pointed to stronger demand after things “calmed” in the Gulf. Reuters reported the stock jumped as much as 16% and was still up 9.2% at 0937 GMT. Reuters
Jet2 said it has hedged 90% of its jet fuel needs for the year at an average of $743 a metric ton. JPMorgan analysts called the near-term earnings picture tough, pointing to a crowded UK leisure market, effects from the Middle East and the airline’s newer bases like Gatwick.
Vistry shares fell. The UK’s biggest affordable homebuilder now sees a pre-tax loss of £30 million for the first half and finished about 6,100 homes, fewer than last year’s 6,889. RBC Europe’s Anthony Codling said its second-half profit aim looks “a tall order” given ongoing restructuring and the political climate. Euronext Live
IG Group LON:IGG traded higher after it said it wants to set up a new holding company in Jersey. It also posted an 18% rise in first-half revenue from a year ago, with about two-thirds of sales now coming from outside the UK. Severn Trent (LON:SVT) slipped after Ofwat outlined breaches in wastewater obligations but decided against a fine, pointing to the company’s response and a £98 million investment from shareholders.
The domestic macro numbers looked mixed. The KPMG and REC jobs survey found temp billings jumped at their quickest pace since April 2023. Permanent placements dropped again but pay growth picked up a bit from soft levels. Lisa Fernihough, vice chair advisory at KPMG UK, called recent hiring “the pivot to temporary work.” Uk
